Sator acquires additional 35% stake in L'Autre Chose

Amedeo Goria
09 August 2016

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Rome-based private equity house Sator Capital has acquired an 84% stake in Italian retailer L’Autre Chose from the founding Boccaccini family.

As part of the deal, the GP acquired a further 35% stake in the business, raising its stake to a total of 84%. Following the transaction, the founding family will retain a 16% stake in the business.

The deal saw Alfredo and Daniele Boccaccini retain their role in the company, while Pier Luigi Rossi, manager of Sator's private equity team, and Erika Filipponi, former CEO at Ferragamo, became chair and CEO, respectively.

Previous funding
In July 2013, Sator acquired a 49% stake from the founding family. The GP bought its minority stake for €8m via its 2008-vintage vehicle, Sator Private Equity Fund.

Company
Established in 1959 and headquartered in Porto Sant'Elpidio, L'Autre Chose manufactures shoes, clothes and accessories for the women luxury sector. At the time of publication, the company managed seven retail stores and three outlets.

According to press reports, the company posted a turnover of €17.6m in 2015 with €502,000 of EBITDA and €4.6m of debt.

People
Sator Capital Limited – Matteo Arpe (chair, CEO); Pier Luigi Rossi (manager).
L'Autre Chose – Alfredo Boccaccini (founder, chair, CEO).

Advisers
Equity – Jones Day (legal).
Vendor – Studio Legale De Vergottini (legal).